Grafito de Mexico, the registered and beneficial owner of the El Tejon property, is held by the Vendors, which shares represent 97.5% of the issued and outstanding share capital of Grafito.
Big North president and CEO Spiro Kletas said the company has reached a definitive agreement to acquire the El Tejon project, which represents near-term flake graphite production and sales potential for Big North.
"This aligns with the Company’s strategy of being one of the first juniors to produce and sell amorphous graphite and now additionally, potential flake graphite to the world market," Kletas added.
"Our immediate goal is to fast-track this project."
Located in the state of Oaxaca, approximately 38km Northwest of the City of Oaxaca, in the town of San Francisco Telixtlahuaca, the 500h El Tejon property includes the El Tejon flake graphite mine and an existing mill.
